secwatch.observer — SEC 8-K summary
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Issuer:     Cardio Diagnostics Holdings, Inc. (CDIO)
CIK:        0001870144
Form:       8-K
Filed at:   2023-03-13T23:59:59+00:00
Accession:  0001079973-23-000326
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cardio Diagnostics enters $11.2M convertible debenture financing with Yorkville; receives initial $4.5M
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- Gross proceeds up to $11.2M from YA II PN, Ltd. (Yorkville); first tranche $5M debenture at 90% ($4.5M), second $6.2M upon SEC reg. effectiveness.
- Convertible at lower of $5.00 or 92% of avg two lowest daily VWAPs over 7 days, floor $0.55; 12-month maturity, 0% interest (15% on default).
- Proceeds to expand commercial adoption of PrecisionCHD and Epi+Gen CHD tests, launch new cardiovascular tests, and pursue payor coverage.
- Company has no deposits at Silicon Valley Bank; all deposits except <$250K in a major money center bank.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1870144/000107997323000326/0001079973-23-000326-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1870144/000107997323000326/cdio_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-23-000326

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer